What Happened?
Irvine, CA-based Allen Barbieri as Chief Executive Officer
About the Company
Biosynthetic Technologies (BT) manufactures a revolutionary new class of synthetic oils made from organic fatty acids found in plant oils. This fluid has numerous uses across the lubricant, chemical, and cosmetics industries, outperforming petroleum-based oils in similar applications. In addition to their high-performance properties, these renewable oils are biodegradable and nontoxic. BT holds a broad portfolio of issued and pending patents protecting this novel chemical technology. BT currently offers two product lines: Biosynthetic Base Oils are used in passenger car motor oils (PCMO) and numerous other commercial and industrial lubricant products. Several of the worlds largest manufacturers of automotive and industrial lubricants are formulating and certifying finished products containing these biosynthetic oils.
About the Person
For over 20 years, Allen has served as Chief Financial Officer, Chief Executive Officer or Chairman of numerous successful public and private companies. Before joining Biosynthetic Technologies LLC, Allen was Chief Executive Officer of a biomedical company with manufacturing facilities in the U.S. and Mexico. This company was ultimately sold to a larger European distributor. While there, Allen also assisted in the creation, growth and ultimate sale to 3M Corporation of LingualCare, a technology based orthodontics company. Prior to the biomedical company, Allen was Chief Financial Officer of BUY.COM. While there, BUY.COM received $200 million in funding from the ventures community. At the time, BUY.COM revenues were second only to Amazon among online retailers.
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